Can I receive pre-settlement funding for a wrongful death case?
When a loved one dies due to the negligence of another, the survivors of the deceased may be eligible to pursue a wrongful death claim. This case is a civil lawsuit that may result in substantial financial compensation to the deceased person’s survivors. Unfortunately, the process of acquiring a monetary award can be long and expensive, and the survivors may be in need of some financial assistance while waiting for their case to be resolved.
This is where pre-settlement funding can come into play for wrongful death cases. Pre-settlement funding is a special type of loan that provides you with a cash advance on your expected settlement, allowing you to pay for your legal expenses and deal with your everyday needs while you wait for a favorable outcome. The lender takes an agreed-upon portion of the eventual settlement or award as repayment for the loan, plus interest, and you won’t have to make any payments until the case is resolved. This means you can get the money when you need it and still have time to pursue a favorable settlement.
Although pre-settlement funding may be available for wrongful death cases, the requirements and process may vary depending on the lender and the state you live in. Before seeking a pre-settlement loan, it’s important to understand whether such funding is available in your particular state and how the process works.
In general, most pre-settlement loan providers require that the case be at least in the discovery phase and have a good chance of success. This means that the lawyers involved must have already completed enough research and investigation to form a convincing case and convince the lender that you are likely to obtain a favorable outcome. If your case does not meet these criteria, it’s unlikely a pre-settlement loan would be available.
Additionally, it’s important to remember that pre-settlement funding is not a substitute for hiring a good lawyer. Even if you feel you have a strong case, you will still need a qualified attorney to represent you in court and help you achieve the best possible outcome.
Overall, pre-settlement funding may be a viable option for wrongful death cases, as long as the particular case meets the requirements of the lender and you understand how the process works. It is crucial to speak with an experienced wrongful death attorney, as well as a qualified pre-settlement financing provider, before seeking a pre-settlement loan in order to ensure you are making the best decisions for your case.
